The Rockland County village of Suffern is the most fiscally stressed village in all of New York, according to a report from the state Comptroller’s Office.
Suffern scored the highest rating on Comptroller Thomas DiNapoli’s fiscal-stress scale, notching 86.7 percent of stress points, the report found. The next-highest village, Amityville in Suffolk County, showed 70.8 percent of DiNapoli’s signs of fiscal issues.
In all, DiNapoli’s report showed four New York villages with “significant stress,” four with “moderate stress” and seven “susceptible to fiscal stress,” including Red Hook in Dutchess County.
“Although the number of villages designated as fiscally stressed is small, village officials across the state must be on alert,” DiNapoli said in a statement. “Moving forward, the drivers of fiscal stress will continue to hamper villages in many of the same ways it does our larger municipalities. I continue to emphasize to local officials that the best way their community can avoid falling into fiscal stress is through sensible budgeting and careful long-term planning.”
DiNapoli’s system takes various financial issues into account, including a village’s cash ratio, general fund balance, operating deficit and personnel costs.
(Note: post will be updated)